Overview As a reminder, Carrington Mortgage Services, LLC (CMS) requires a soft pull credit report (also known as a credit refresh or LQI report) as follows: For all conventional transactions, within 14 days of the note date For all Carrington Flexible Advantage and Carrington Flexible Advantage Plus transactions, within 10 days of the note date […]
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Overview As a reminder, FHA Mortgagee Letter 2019-011 reduced the maximum allowable LTV and CLTV limits for cash-out refinances from 85% to 80% for all FHA cash-out refinance mortgages with case numbers assigned on or after September 1, 2019. During the weekend of October 19, 2019, DU was updated to support the new LTV and […]
Overview Due to Tropical Storm Imelda in Texas, FEMA has declared the following counties a disaster. The updated county is shown in bold. Incident Period: September 17, 2019 - September 23, 2019 State FEMA Disaster Declaration Counties Texas October 4, 2019 Chambers, Harris, Jefferson, Liberty, Montgomery, Orange and San Jacinto Please note: If an appraisal […]